American Creek Points Out Resources Adjacent To Its Treaty Creek Project

American Creek Resources Ltd. has sent out a capsule description of the resources found by Seabridge Gold Inc. and Silver Standard Resources on properties near to American Creek's own Treaty Creek project in B.C. Silver Standard's Snowfield/Sulphurets project, with 19.1 million ounces of gold, 1.96 billion pounds of copper and over 63 million ounces of silver resources, is about 2.5 km away from Treaty Creek. Seabridge's Mitchell deposit, adjacent to Treaty, has resource of over 39 million ounces of gold and 8 billion pounds of copper. In the news release, the company says that Treaty Creek appears to be on the same trend line as the Mitchell. In a later correction, American Creek noted that the above totals for the other two companies lumped together measured, indicated and inferred resources. It also acknowledged that the categories should have been unbundled in order to have been compliant disclosure

This report was released before market opened, and was good enough to shoot American Creek up 5 cents to close at 21.5 cents. Current bid for American Creek is 20 cents, and current ask is 23 cents. Silver Standard closed at $16.92, down 52 cents, and Seabridge closed at $24.64, down 32 cents.

American Creek's Google Finance web page is here, Silver Standard's is here, and Seabridge's is here.

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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.

Silver Standard Announces Increase In Gold Reserves In Annual Report

Within a report detailing Silver Standard Inc.'s fourth-quarter and year-end results for 2008, in which it reported a net loss of 28 cents/share for the quarter and 17 cents/share for the year, it also disclosed an increase in its gold resources. Drilling in its northern B.C. Snowfield project revealed more resources, a five-fold increase, and measured plus indicated reserves for its San Luis project in Peru increased by 31%. Measured and indicated gold reserves at Snowfield are now 4.362 million ounces; M + I for San Luis are now 348,000 ounces of gold. There's also potential for a returned off-option property, the San Augustin in Mexico.

This report was released after the market closed yesterday, when Silver Standard finished at $15.59. As of the time of this posting, bid-ask is $15.50-$16.70.

Silver Standard's Google Finance web page is here.

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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.